CHAPTER 20 Audit of Cash Balances Copyright 2003 Pearson Education Canada Inc. 20 - 1 What are the auditor’s primary concerns with regard to cash? Copyright 2003 Pearson Education Canada Inc. 20 - 2 What are the auditor’s primary concerns with regard to cash? - existence Copyright 2003 Pearson Education Canada Inc. 20 - 3 What are the auditor’s primary concerns with regard to cash? - existence - completeness Copyright 2003 Pearson Education Canada Inc
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AUDITING THEORY 1. Which of the following activities is an analytical procedure an auditor would perform in the final overall review stage of an audit to ensure that the financial statements are free from material misstatement? A. Reading the minutes of the board of directors’ meetings for the year under audit. B. Obtaining a letter concerning potential liabilities from the client’s attorney. C. Comparing the current year’s financial statements with those of the prior year. D. Ensuring that
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yer_detailpage&v=KBV-JHJcB7c&list=UUp_A9 126rB138FOGsdm90vw Types of Auditors • • • • • External auditors Internal Auditors Governmental Auditors Forensic Auditors Information Technology 2-4 Types of Audit‚ Attest‚ and Assurance Services Audit Services: Internal Control Audits‚ Compliance Audits‚ Operational Audits‚ Forensic Audits Attest Services: Reporting on nature and quantity of inventory stored in a company’s warehouse so that the company can obtain a bank loan Assurance Services: Auditing is a specialized
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United States Securities and Exchange Commission Form 10- K Microsoft Corporation For the fiscal year ended June 30‚ 2012 Sujata Gawali ACCT 221 Prof. John Davis June 16‚ 2013 General Business Information: Microsoft Corporation is an American multinational software corporation founded by Bill Gates and Paul Allen on April 4‚ 1975. It develops‚ manufactures‚ licenses‚ and supports a wide range of products and services related to computing. Originally‚ Microsoft was established
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SEMESTER 1‚ 2013 SEMINAR 9 - PROBLEM QUESTIONS PROBLEM 9.1 While assessing the risk of material misstatement and determining the appropriate response with regard to the inventory of Ace Computers Ltd (Ace) for the year ended 30 June 2011 audit‚ you become aware of the following information: 1. The best-selling computer presentation package has been experiencing a high level of returns owing to suspected software problems. 2. Based on closing inventory‚ inventory turned over
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Name: __________________________ ( ) Class:________ Date: ____________________ Essential Information sheet for SEQ Chapter 6 – How did World War 2 Affect Singapore? EQ1: What were the efforts made by the British to defend Singapore? All military planning and deployment of military resources towards the defence of Singapore and Malaya centered around a key strategy known as the Main Fleet to Singapore Strategy . Why did the military planners come up with this strategy of
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Buckless‚ Steven M. Glover‚ Douglas F. Prawitt INSTRUCTIONAL OBJECTIVES • • • • • • To provide students with an opportunity to learn (by doing) how auditors identify various client and audit risks. The case also provides students with insight into how a risk analysis ties in to the strategic audit planning process. To provide students with hands-on experience responding to client concerns and issues. Often auditing students do not realize the extent to which clients request interpretations
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Why‚ and by what authority the SEC was formed The SEC was founded in 1934 in the wake of the Great Depression – The SEC was created by section 4 of the Securities Exchange Act of 1934 (now codified as 15 U.S.C 78d and commonly referred to as the 1934 Act). The SEC was established by the United States Congress as an independent‚ quasi-judicial regulatory agency during the Great Depression that followed the Crash of 1929. The main reason for the creation of the SEC was to regulate the stock market
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War‚ was a conflict between England and France‚ was not actually a single war that lasted a hundred years; instead it was a series of wars interspersed with periods of peace that began in May 1337 and ended in October 1453. The three main conflicts were the Edwardian War won by English king Edward III; the Caroline War won by French king Charles V; and the Lancastrian War won by French king Charles VII. The Hundred Years’ War was the outcome of disputes between the ruling families of the two countries
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Drabinsky and Myron Gottlieb. However‚ numerous individuals were eventually drawn into Livent’s fraudulent schemes by its principal architects‚ including Maria Messina‚ the company’s chief financial officer (CFO). Messina‚ a former partner with Deloitte & Touche’s Canadian affiliate‚ had previously served as Livent’s audit engagement partner. The fraud unraveled following Livent’s takeover by an investment group led by Hollywood mogul Michael Ovitz. The new management team installed by Ovitz soon
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